Picking up where we left off on Saturday… people often think pricing their goods and services too high, kills conversions.
And sure, when you’re selling commodity-types of products… sometimes this is true.
But I’ve also been involved in selling consumer durables that normally sell for $110, and our average sale was $175… and another product where the normal average sale is $210, and we were at $285.
Which means, for the most part… “your prices are too high,” isn’t really the conversion-killing mistake most people think it is
This is more of a myth, than anything else.
And that’s because people buy what they WANT to buy, regardless of price. Even more so here in America — because they also buy whether they can afford it or not.
However there are some important conversion strategies related to pricing, you’d be foolish not to consider.
Let’s look at 3 of them:
1. The most important of them is, you need to make sure you’ve clearly established and communicated a proper USP (Unique Selling Proposition) to your buyers.
This way, they can easily understand and justify to themselves WHY you cost more. Because in general, as the old adage goes, “Price is only an issue… in the absence of value.”
People may not be able to articulate this, but make no mistake – the value process is going on inside, automatically in the back of their mind.
So you need to make sure you communicate this value, clearly.
2. Another thing that’s easy to do, but for some reason, people often shy away from this, is to offer payments.
This is an easy way to make an expensive product, look very affordable. And in many cases, doing this completely bypasses price even as a buying consideration.
3. And lastly, you can also increase the value of your product so high… the value proposition is so great, your product or service now looks in-expensive, in comparison to what you’re getting.
Make sense?
Good.
Don’t forget – this series is part of the relaunch of my flagship conversion program, Psychological Conversion Strategies. More about this, tomorrow.
Now go sell something, Craig Garber
P.S. Don’t forget – Psychological Conversion Strategies Comes out Thursday at 10AM, Eastern Time